IPG Photonics Co. (NASDAQ:IPGP) Receives $93.50 Consensus PT from Brokerages

IPG Photonics Co. (NASDAQ:IPGP) has been assigned an average recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, one has assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $93.50.

IPGP has been the subject of a number of recent research reports. Needham & Company LLC restated a “hold” rating on shares of IPG Photonics in a report on Wednesday, October 30th. Northcoast Research downgraded shares of IPG Photonics from a “buy” rating to a “neutral” rating in a research note on Wednesday, December 4th. Finally, Benchmark reaffirmed a “hold” rating on shares of IPG Photonics in a research note on Wednesday, October 30th.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Envestnet Asset Management Inc. raised its holdings in IPG Photonics by 11.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 50,388 shares of the semiconductor company’s stock worth $4,252,000 after purchasing an additional 5,190 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in IPG Photonics by 14.5% in the second quarter. Dimensional Fund Advisors LP now owns 996,029 shares of the semiconductor company’s stock worth $84,054,000 after buying an additional 125,958 shares in the last quarter. Amalgamated Bank lifted its holdings in IPG Photonics by 10.9% in the second quarter. Amalgamated Bank now owns 17,946 shares of the semiconductor company’s stock worth $1,514,000 after buying an additional 1,759 shares during the period. Hsbc Holdings PLC bought a new stake in IPG Photonics during the 2nd quarter valued at approximately $374,000. Finally, Caxton Associates LP grew its holdings in shares of IPG Photonics by 64.8% during the 2nd quarter. Caxton Associates LP now owns 15,524 shares of the semiconductor company’s stock worth $1,310,000 after acquiring an additional 6,106 shares during the period. Hedge funds and other institutional investors own 93.79% of the company’s stock.

IPG Photonics Stock Performance

NASDAQ IPGP opened at $74.06 on Friday. The company has a market capitalization of $3.20 billion, a P/E ratio of -21.34 and a beta of 0.96. IPG Photonics has a 52-week low of $61.86 and a 52-week high of $104.19. The company has a fifty day moving average of $75.46 and a 200-day moving average of $75.10.

IPG Photonics (NASDAQ:IPGP) last posted its quarterly earnings data on Tuesday, October 29th. The semiconductor company reported $0.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.19 by $0.10. The firm had revenue of $233.14 million during the quarter, compared to analysts’ expectations of $227.89 million. IPG Photonics had a positive return on equity of 4.32% and a negative net margin of 14.20%. The company’s revenue for the quarter was down 22.6% compared to the same quarter last year. During the same period in the prior year, the business earned $1.16 EPS. As a group, analysts forecast that IPG Photonics will post 1.51 EPS for the current fiscal year.

About IPG Photonics

IPG Photonics Corporation develops, manufactures, and sells various high-performance fiber lasers, fiber amplifiers, and diode lasers used in various applications primarily in materials processing worldwide. Its laser products include hybrid fiber-solid state lasers with green and ultraviolet wavelengths; fiber pigtailed packaged diodes and fiber coupled direct diode laser systems; high-energy pulsed lasers, multi-wavelength and tunable lasers, and single-polarization and single-frequency lasers; and high-power optical fiber delivery cables, fiber couplers, beam switches, chillers, scanners, and other accessories.